🔷 ID/USDT
🟩 Long
♻️ Leverage 10X (Considering the volatility and risk management)
👉 Entry: 0.4686
🎯 Target Levels:
• 1st Target: 0.4750
• 2nd Target: 0.4800
• 3rd Target: 0.4850
• 4th Target: 0.4900
⛔ Stop Loss: 0.4620
Support and Resistance Levels:
• Support Level: 0.4620 (Recent low seen on the 5-minute chart, offering strong support)
• Resistance Level: 0.4750 (Price is facing resistance at this level, a breakout could drive further momentum)
Market Analysis (Based on 5-Minute Chart):
• Current Price Action: ID/USDT has experienced a +8.13% increase in the last 24 hours, reaching as high as 0.4703. The price is showing a potential bullish continuation, with the market in an upward phase.
• Volume: The 24-hour volume stands at 13.1M USDT, highlighting strong trading activity in this token.
• Market Sentiment: Given the recent increase of 8.13% over the past 24 hours, ID/USDT shows bullish momentum. The short-term trend is positive, but price action may experience fluctuations as it moves toward the resistance level.
Market Sentiment Breakdown (Short vs. Long Positions):
• Long Positions: 60.58%
• Short Positions: 39.42%
The market is slightly bullish, with more traders opting for long positions. However, there is also a significant amount of short activity, which could lead to potential reversals if the resistance level holds.